Stablecoin depeg >2% on shared-LP venue

Spiko's assessment for RD-F-104 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

EUTBL/USTBL are NAV-accruing T-bill fund tokens not pegged to any stablecoin and not in shared-LP stablecoin pools. Primary redemption is off-chain with the fund custodian. No DeFi pool with shared stablecoin liquidity. Stablecoin depeg signal requires stablecoin exposure >= 5% of protocol TVL on a venue with shared LP — not met for Spiko's architecture.

Sources #

Internal
Spiko data cache — no stablecoin LP00-data-cache.json defillama borrow.present false; no shared LP pools with stablecoin dependency identified in chain distributionretrieved 2026-05-16
Docs
Spiko official launch announcement — fund structureSpiko product: EUTBL = euro T-bill MMF shares; USTBL = USD T-bill MMF shares. NAV-based, UCITS-regulated. No stablecoin pegs.retrieved 2026-05-16

Methodology #

Detect whether a stablecoin in this protocol's dependency graph depegs >2% on a venue with shared liquidity.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol spiko factor RD-F-104 score not_applicable collected_at 2026-05-15 22:52:13